Samsung Pay Expands with 39 New Banks

Samsung Pay Expands with 39 New Banks

May 9, 2016         Written By Lynn Oldshue

Samsung announced it will now support a total of 39 new banks, in addition to its already-expansive network of payment options. Most of these financial institutions are small- to medium-sized credit unions, such as Nutmeg State Financial Credit Union and General Electric Credit Union. For a full list of banks currently supported by Samsung Pay, you can visit the company’s website.

Samsung Pay is available on all Galaxy S6 and S7 models, as well as the Galaxy Note 5. Compatible phones that do not already have the app pre-installed can still get Samsung Pay through the Google Play store. However, older devices such as the Samsung Galaxy S5 and prior versions do not currently have access to Samsung Pay, compared to the upcoming LG Pay, which is rumored to work on all LG devices.

In April, Samsung finally made its way into China, expanding beyond the United States and South Korea. Samsung has already discussed an expansion to Australia, Brazil, and Singapore some time this year, but there are no official dates out have been released.

Samsung Pay is accepted by more merchants in the United States than its competitor, Apple Pay, but Apple Pay offers support for more banks. Fortunately, both mobile wallets and others like Android Pay all accept cards issued by major credit card companies.

The information contained within this article was accurate as of May 9, 2016. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.


About Lynn Oldshue

Lynn Oldshue has written personal finance stories for for twelve years. She majored in public relations at Mississippi State University.
View all posts by Lynn Oldshue
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